Updated Nov 22, 2022 16:21

Market for Refractory Products of Siliceous or Diatomite Earths in Japan

Market Overview
The Japanese market for refractory products of siliceous or diatomite earths was finally on the rise to reach $ in , after two years of decline. Overall, consumption enjoyed a strong increase. As a result, consumption reached the peak level of $. From 2019 to , the growth of the market failed to regain momentum.

In value terms, production of refractory products of siliceous or diatomite earths soared to $ in estimated in export price. Overall, production continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of %. As a result, production attained the peak level of $. From 2019 to , production of growth failed to regain momentum.


Consumption
In , consumption of refractory products of siliceous or diatomite earths increased by % to tons, rising for the second consecutive year after two years of decline. Overall, consumption showed prominent growth. As a result, consumption reached the peak volume of tons. From 2019 to , the growth of the consumption of remained at a somewhat lower figure.

The value of the market for refractory products of siliceous or diatomite earths in Japan rose modestly to $ in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed prominent growth. As a result, consumption reached the peak level of $. From 2019 to , the growth of the market remained at a somewhat lower figure.


Market Forecast
Driven by increasing demand for refractory products of siliceous or diatomite earths in Japan, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Japan domestic supply is expected to continue its growth. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Japan remains a net importer of refractory products of siliceous or diatomite earths; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.